The UK government has published draft legislation to regulate ESG (Environmental, Social, and Governance) ratings providers, aiming to improve transparency and trust in the sector. The proposed law, set to be introduced to Parliament in early 2025, will place providers under the oversight of the Financial Conduct Authority (FCA). The move follows a 2023 government…

The European Union is taking bold steps to combat climate change, aiming to cut emissions by 55% by 2030 and achieve net-zero by 2050 under its ambitious Fit-for-55 framework. But how will this reshape the financial world? To address this, leading European financial authorities—the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA),…

COP16 in Cali, Colombia, saw mixed reactions from the 3,000 delegates, but there were some notable victories. One key achievement was the establishment of a new subsidiary body that will give Indigenous peoples, who protect 80% of the world’s biodiversity, a voice in future biodiversity COPs. Another win was the creation of the Cali Fund, a…

The International Society of Automation (ISA), a leading global authority on automation, has published a new position paper, “Advancing Precision Agriculture Through Control System Technologies,” to emphasize the essential role of industrial control systems (ICS) in precision agriculture. Precision agriculture leverages technologies like GPS, sensors, data analytics, and automation to enhance productivity and sustainability. However, rapid…

A new IFRS Foundation report reveals that more than 1,000 companies have begun referencing International Sustainability Standards Board (ISSB) standards in their reports, with 30 jurisdictions moving towards incorporating these standards into regulatory frameworks. The report, presented to the Financial Stability Board (FSB), highlights significant progress in aligning with the Task Force on Climate-related Financial…

At COP29, CDP and EFRAG announced a significant advancement in their partnership to enhance efficiency in the environmental data ecosystem. This strengthened cooperation brings the CDP’s global disclosure system into closer alignment with the European Sustainability Reporting Standards (ESRS), marking a pivotal step toward unified environmental reporting for companies worldwide. The collaboration, which involved joint mapping…

Former President Donald Trump secured a second term this week, defeating Vice President Kamala Harris in a highly divisive election focused on issues such as abortion, foreign policy, and the economy. With Trump’s return to the White House, the GOP's control of the Senate, and a conservative-leaning Supreme Court, experts are sounding alarms on potential…

A new California law requiring large corporations to disclose value chain emissions and climate-related financial risks survived an initial legal challenge by the U.S. Chamber of Commerce. This decision by U.S. District Judge Otis Wright II allows regulations SB 253 and SB 261, signed by Governor Newsom in October 2024, to move forward. However, the…

The European Union (EU) is pushing to finalize a trade agreement with the South American Mercosur bloc by the end of 2024, EU Commissioner for Crisis Management Janez Lenarcic revealed last week. Despite ongoing negotiations, Lenarcic acknowledged that differences remain, particularly regarding a new EU law banning imports of products tied to deforestation, a contentious…

 In a significant environmental breakthrough, the European Union achieved an 8.3% reduction in greenhouse gas (GHG) emissions in 2023, marking one of the largest year-over-year declines outside of the COVID-19 pandemic, according to a new report from the European Commission. This marks a major milestone in the EU’s pursuit of climate neutrality and reinforces its…

By Peter Paul van de Wijs, Chief Policy Officer Corporate accountability is now a pressing global focus, underscored by recent international discussions on environmental action. Companies' roles in tackling sustainability challenges were central to last month's Biodiversity COP16 in Colombia, September's Climate Week NYC, and remain a high priority for the upcoming Climate Change COP29 in…